Weekend Reading – Great TFSAs, Super Bowl, retirement rules, and more #moneystuff
Welcome to my latest Weekend Reading edition – where I share some of my favourite articles from the week that was across the personal finance and investing blogosphere.
These were my posts from the past week:
Here are some great things you can do with your Tax Free Savings Account.
What are your 2018 predictions? Here are mine!
Watching the Super Bowl this weekend? On the subject of predictions I predict along with some great new commercials the Patriots will win 34-21 even though I want the Eagles to prevail. I like cheering for the underdog and besides, Brady has enough rings. Maybe the Eagles can pull out an upset?
All the best and see you here next week for a book giveaway – stay tuned!
Mark
Enjoy these articles!
Retire Happy covered some retirement rules of thumb. The big rule that got tested was the 4% rule – can you “safely” withdraw $40,000 per year and increase it every year by inflation from a $1 million portfolio? (That would give most 60-somethings upwards of $60,000-$70,000 per year in retirement income, when you add in income from CPP and OAS.) You can read about when to take your CCP here.
Here are some money strategies Canadian Budget Binder used to kill debt.
Retire by 40 wondered did the financial crisis change you? It’s been almost 10 years since The Great Recession. To answer his question it definitely shaped how I invest today – so yes – I guess it did change me. If the market drops another 10% or 20% it will be interesting to see how my investing strategy will work out.
Freedom Thirty Five Blog shared some ideas on predicting the next recession.
The Blunt Bean Counter recommends continually learning.
This is what can happen when mental models fail – when it comes to your finances.
Take advantage of these saving and investing deals!
From my library…
These are my personal finance rules of thumb.
With “RRSP season” approaching, it’s good time to review how to build a fat RRSP nest egg.
Mark
My name is Mark Seed - the founder, editor and owner of My Own Advisor. As my own DIY financial advisor, I've surpassed my goal and now investing beyond the 7-figure portfolio to start semi-retirement with. Find out how, what I did, and what you can learn to tailor your own financial independence path. Join the newsletter read by thousands each day, always FREE.
Thanks Mark. Good posts. The banks are at a decent discount. Lets see what the next few days bring….
Hi Mark, anything pique your interest to buy on these dips??
Chuck.
Same stocks I wrote about before. Trying to save up more cash for those buys 🙂
https://www.myownadvisor.ca/3-utility-stocks-plan-buy-2018/
https://www.myownadvisor.ca/3-bank-stocks-i-plan-to-buy-more-of-in-2018/
cannew – exactly my thoughts…total return means SFA when one is ramping portfolio for monthly/Q div’s when retirement comes around. In fact, DRIPS work worst when SP goes up….increased SP may look better on the bottom line of your portfolio…but your bottom line doesn’t send you div cheques.
DRIPs work great with market declines as long as dividends stay the same. Happy to see a dip because I buy my stocks at cheaper prices. Not selling anything.
Financial Crisis: Though we were retired during the crisis and had switched to DG investing, we still panicked and worried about how low the market would go. I wanted to buy but did not know when to jump in, worrying the market would drop more, so we did not begin to reinvest till after the market low. What we did not do was sell.
What I learned was if you own solid companies that continue to pay their dividend, even if they stopped raising them like the banks, add money as they drop and continue to add more as they continue to drop. Ignore the price but look at the additional income you will be receiving and the additional shares you’ll buy when you reinvest the dividends. That’s how you’ll build a solid retirement income.
Well, the way I see it, as successful as you are, as long as you are not selling your 13 stocks then I won’t sell either. 🙂
I’m DRIPping the following CDN stocks right now:
Bank of Montreal (BMO)
Bank of Nova Scotia (BNS)
Bell Canada (BCE) x2
Capital Power (CPX) x2
Enbridge (ENB)
Fortis (FTS) x2
H&R REIT (HR.UN)
Cominar REIT (CUF.UN)
Innergex Energy (INE)
InterPipeline (IPL)
Laurentian Bank (LB)
National Bank (NA) x2
Power Financial (PWF)
Smart REIT (SRU.UN)
Telus (T) x3
and… 🙂
Algonquin Power (AQN) x2
Canadian Utilities (CU) x2
Royal Bank (RY)
TD Bank (TD)
Emera (EMA) x2
Brookfield Infrastructure (BIP.UN) x2
Brookfield Renewable (BEP.UN) x2
That does not include my U.S. stocks or U.S. ETFs.
It would be nice to get all these stocks DRIPing x2 or x3 shares every month and quarter but such is life. Gotta be patient. Money will make money if I let it!
Laurentian Bank is the Poster Child for “increasing div’s and tanking SP…lol
I was too cheap to spend a few cents and buy back Jan $56 covered call position I had…had a stink bid in under $56 to buy them back the next week after I lost them (profitably, worked out to 36% annualized)…but sp didn’t sink that low:-(
Mark – what does the X2 mean…held in more than one account?
x2 shares per quarter. True, share price/capital appreciation over last 5 years or so is not as good as some other banks.
I was still working and making good coin during the ’08 contraction so it didn’t seem scary even though the portfolios went down 24%. It was shortly after that when my then FA suggested getting all the way out of the mutuals and all into individual stocks. It would be nice to claim I was a financial genius but it was luck with timing, pure and simple.